Date: Thu, 4 Jan 2001 12:07:23 -0500
To: fishbreath@somewhere.net
From: nic
Subject: RE: better

 

e:

coming from a (relatively) poor (american) family, most of whom did not own property for quite some time (my parents have rented the same half a duplex for 35 years), I would think that liquidity is more important than assets, so skip the house. Conversely, breaking poverty cycles is putting a lot of pressure and expectation on the generation that benefits from more money. Its an ugly truth, but being poor usually means being uneducated, and, often, a lack of responsbility. Money is never used as efficiently as it should be, never for maxmimum benefit. So if you buy the house, there is the hope that a fixed asset and place to live will provide security and hope for starting them on some road to fiscal security. But if houses are easily traded commodities (unlike the United States) due to depressed values, they might just sell it anyway, out of need or selfishness. If you just give them the money you will inevitably hear about how it is spent and be certain to feel like it was wasted in at least some portion. In the end, you don't have time or money to fix everything to the point where you can be satisfied that you have made a difference. But that is also something that isn't for you to know (I look at my father, child of the depression, so poor, and wonder, what if I did become rich- would it 'help' him, could it make him happier? I don't know). Flip a coin. Either way, you will be doing the most you can, and that is the best you can hope for.

granted this is only advice not money, since I didn't contribute (added only so others don't think I can presume to speak for their generousity, but I thought it might help because I have spent some years trying to figure out if I should bite the bullet and try to buy my parents house for them, with many of the same concerns)

nic

from ef:

well. this is where we stand. but now there is another problem.

see, i have already put into effect the little housebuying scheme, and made the deposit the guy selling had asked for. so now, either i do go ahead and buy the place or we lose the deposit. so what to do.

 

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